Hello traders! Here’s my technical outlook based on the current EURUSD (3H) chart structure. Price moved from a range into a descending channel, forming lower highs and confirming bearish momentum. After breaking below consolidation, the trend continued downward.
Currently, EURUSD is approaching the 1.1620 supply zone after a steady upward move, showing increasing bullish pressure despite the broader downtrend.
As long as price holds above the 1.1530 demand zone and respects the ascending demand trend line, the bullish scenario remains valid. A breakout and consolidation above 1.1620 would confirm strength from buyers and could push EURUSD toward higher resistance levels as the next upside targets. Manage your risk!
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